NewSmith Financial Products

NewSmith Financial Products was a credit derivative product company (CDPC) and a subsidiary of NewSmith Capital Partners, a boutique investment firm founded by former Merrill Lynch executives Michael Marks, Stephen Zimmerman, and Paul Roy. Launched in 2006, the company specialized in the credit derivatives market, providing credit protection and managing portfolios of credit default swaps. Following the 2008 global financial crisis, the company faced significant headwinds in the structured credit market and was eventually placed into run-off. While the broader NewSmith group previously managed a dedicated healthcare investment fund, NewSmith Financial Products itself was strictly a financial services entity and was not involved in biotechnology research or drug development.